Agreement For Deed Form printable pdf download

AGREEMENT FOR DEED

THIS AGREEMENT FOR DEED Made this ________ day of ________, 20_______ A. D.

BY AND BETWEEN _____________________________________________________ of the County of

______________,

State

of________________

hereinafter

referred

SELLER,

and

____________________________________________________

hereinafter

referred

PURCHASER.

WITNESSETH, That provided the said purchasers shall first make the payments and perform the

covenants hereinafter set forth on their part to be made and performed the said sellers covenant and agree

to and will by good and sufficient warranty deed convey and assure to the said purchasers, their heirs and

assigns forever in fee simple, free and clear of all encumbrances, the following described land situate in

County, _______________ to wit:

The purchase price of said land is ($ _____) , of which the purchasers have herewith paid to the

sellers the sum of $ _________________________ and the purchasers agree to pay to the sellers the

balance, to with the principal sum of ($_______), together with interest on so much of said principal sum

as remains from time to time outstanding and unpaid at the rate of ______ per centum from

_________________________________ until paid; said principle and interest to be payable in

consecutive monthly installments, each in the sum of $ ___________________ and payable on the

day of each and every month beginning with the _________ day of _________, 20____; said

installments to be applied first to interest and balance to principal. If any payment is not received within

_______ days of due date, there shall be a late charge of _______ % added. The purchasers may prepay

any part of the principal sum hereof in multiples of ($_______)on any installment payment date, but any

such prepayment shall not relieve the purchasers from making the payment of the installment then due

and any subsequent installment provided hereby unless at the time of such prepayment the purchasers pay

all sums unpaid hereon.

The PURCHASERS covenant and agree as follows: (a) to pay all taxes, fines and assessments

levied or assessed on said land subsequent to December 31, 20_____ , as and when the same respectively

become due and shall exhibit to sellers immediately after such payment the official receipts therefor; (b)

to place and continuously keep on the building now or hereafter situate on said land fire and extended

coverage insurance in the usual standard policy form in a sum not less than ($_________) in such

company or companies as may be approved by the sellers and said policies shall be delivered up and held

by the sellers and contain the usual clauses making said policies payable to the sellers as their interest

may appear; and in the event any sum of money becomes payable under such policies the sellers shall

have the right to receive and apply the same on account of the indebtedness secured hereby; (c) to permit,

commit or suffer no waste, impairment or deterioration of said property or any part thereof, (d) to at all

times keep and maintain the buildings and improvements on said land in a good and tenantable state of

repair and condition.

Time is of the essence in this agreement and in the event of any breach of this agreement or

default on the part of the purchasers of any kind whatsoever the sellers may without notice to the

purchasers exercise the following options; (a) to terminate this agreement and retain all sums of money

theretofore paid by the purchasers as liquidated damages and/or the reasonable rental value of said land,

and to reenter said premises and take possession thereof fully and to all intents and purposes as if the

purchasers had no interest in said property whatsoever, or (b) to accelerate all sums of money secured by

this agreement whether due by the literal terms hereof or not, and to foreclose this agreement in

accordance with the rules of practice applicable to vendor's liens, in which event the purchasers agree to

pay all costs of collection and foreclosure, including a reasonable attorney's fee.

This agreement is not assignable without written permission from seller.

The words seller, sellers, purchaser and purchasers, whether in the singular or plural as the case

may be wherever used herein shall be taken to mean and include the singular, if only one, and plural,

jointly and severally, if more than one, and their respective heirs, assigns and legal representatives; and,

that the word their taken to mean his, her or its wherever the context hereof so implies or' admits.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the day and year

first above written.

_________________________________

_____________________________

Witness

SELLER

_________________________________

_____________________________

Witness

_________________________________

_____________________________

Witness

PURCHASER

_________________________________

_____________________________

Witness

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Agreement For Deed Form

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